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Archive | price
In this Insider Action Plan, we tackle the topic of pricing a membership site.
Selecting the price for your membership site is an important decision. So, how do you decide what the price should be?
A new Insider Action Plan looks into the topic of pricing on your site. Available on the Home page today!
The ability to effectively promote a membership is key to most successful membership sites.
Profits are immediately pulled in directly through member registrations or a site owner will bank on future payments by promoting other business ventures to these new sign-ups.
Regardless of the intended end result, no site owner wants a new membership to be met with lukewarm interest (and a low number of members).
We went over ways to increase sales for an under-performing membership in Part 1 of this series. We will now continue our look into steps you can take if one of your memberships does not sell at a rate you are happy with.
Although we’d like to think we’re good designers, the cold hard truth is, we’re not.
But it doesn’t mean you should give up having a site that contains great design elements.
Am I suggesting you shell out some big bucks and hire a graphic designer?
If you’re looking for a way to add a little creative “flare” on the “cheap”, then take a look at this…
If you have a paid membership site, chances are you’ve come across the “Freebie Seeker”.
You know, the person who wants everything you have for FREE.
They expect that everything you create and produce should be free (because everything is, right?) and as soon as you put anything behind a “paywall”, they start going crazy.
So how do you deal with these people while maintaining a profitable business?
Here are two proven strategies…
As a membership site owner, chances are, you’ve done “the calculation”.
“If I get this number of members paying me this price each month, I’ll make…”
Are you nodding? It’s ok, we’ve all done it 🙂
We joke about doing “the calculation” but it can be a good thing, especially if you’re planning and setting goals.
However, it’s VERY important to include variables like the “growth rate” and “retention rate” in your calculation (which most people don’t do and these will dramatically effect your overall profitability).
To make things easy, we’ve put together a very handy spreadsheet that does all the work for you…
Many people who launch a membership for the first time will offer a special “early bird” price to get people in the door.
While this strategy is good for getting new members signed up, it can also be extremely effective for retaining members as well.
The “standard” membership pricing plans equate to…
You pay a fee each month, and you get access to XYZ.
But a case can be made for adding a little creativity into the way you structure your prices.
Here is an in depth look at a “car rental” company that’s turned the industry standard on it’s head by creating a pricing strategy that naturally pulls people in and makes doing business with them “easy”.
Take a look…